Spectrum Pharmaceuticals Inc. (SPPI) Stock Price Down 0.6%
Spectrum Pharmaceuticals Inc. (NASDAQ:SPPI) shares traded down 0.6% during mid-day trading on Friday . The company traded as low as $6.74 and last traded at $6.75, with a volume of 740,380 shares changing hands. The stock had previously closed at $6.79.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded Spectrum Pharmaceuticals from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Tuesday, June 28th. FBR & Co restated an “outperform” rating and set a $10.00 price objective on shares of Spectrum Pharmaceuticals in a research report on Tuesday, March 15th. Jefferies Group restated a “hold” rating and set a $6.00 price objective (up previously from $5.00) on shares of Spectrum Pharmaceuticals in a research report on Monday, May 9th. Finally, HC Wainwright restated a “buy” rating on shares of Spectrum Pharmaceuticals in a research report on Monday, March 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $8.20.
The firm’s market capitalization is $442.78 million. The stock has a 50-day moving average price of $6.97 and a 200 day moving average price of $6.14.
Spectrum Pharmaceuticals (NASDAQ:SPPI) last posted its quarterly earnings data on Thursday, May 5th. The biotechnology company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.18. During the same period in the prior year, the firm posted ($0.07) EPS. The business had revenue of $43.90 million for the quarter, compared to analyst estimates of $28.83 million. Spectrum Pharmaceuticals’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts expect that Spectrum Pharmaceuticals Inc. will post ($1.05) earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in Spectrum Pharmaceuticals by 0.7% in the fourth quarter. American Century Companies Inc. now owns 193,307 shares of the biotechnology company’s stock valued at $1,166,000 after buying an additional 1,424 shares during the period. DIAM Co. Ltd. purchased a new position in Spectrum Pharmaceuticals during the fourth quarter valued at approximately $1,110,000. Finally, Russell Frank Co boosted its position in Spectrum Pharmaceuticals by 293.2% in the fourth quarter. Russell Frank Co now owns 848,145 shares of the biotechnology company’s stock valued at $5,208,000 after buying an additional 632,445 shares during the period.
Spectrum Pharmaceuticals, Inc is a biotechnology Company. The Company is engaged in commercial and drug development operations with a focus on hematology and oncology. The Company is engaged in acquiring, developing and commercializing the pipeline of late-stage clinical and commercial drug compounds.
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